Israel Chemicals Ltd. (TASE: CHIM) today published its financial report for the second quarter of 2007. The company posted $962.9 million revenue, up 13.6% on the corresponding quarter of 2006. The company attributes the growth to both increased potash and fertilizer sales and higher market prices.
The strong euro continued to higher revenue from performance products, which was partly offset by lower bromine product sales.
Israel Chemicals posted a gross profit of $349 million for the second quarter, up 26% on the corresponding quarter. Operating profit margin widened to 17.4% of revenue from 14.7% for the corresponding quarter. Net profit rose to $125.8 million for the second quarter from $92.3 million for the corresponding quarter.
Israel Chemicals posted $1.85 billion revenue for the first half, up 18% on the first half of last year. Gross profit totaled $653.8 million, the operating profit margin was 17.2%, and net profit totaled $221.2 million, up 17.1% on the corresponding period.
The company reported a cash flow from current operations of $269.1 million for the first half, up from $128.8 million for the corresponding period.
Published by Globes [online], Israel business news - www.globes.co.il - on August 22, 2007
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